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CUSIP No. 06759L103 13D PAGE 4 OF 9 PAGES
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Item 1. Security and Issuer:
This statement on Schedule 13D ("Schedule 13D") relates to the shares
of common stock, par value $0.001 per share ("Shares"), of Barings BDC,
Inc. f/k/a Triangle Capital Corporation, an externally managed, non-
diversified, closed-end management investment company incorporated in
Maryland that has elected to be regulated as a business development
company under the Investment Company Act of 1940, as amended (the
"Issuer"). The address of the principal executive office of the Issuer
is 300 South Tryon Street, Suite 2500, Charlotte, NC, 28202.
Item 2. Identity and Background:
This Schedule 13D is being filed pursuant to Rule 13d-1 promulgated
under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), by the persons listed below (the "Reporting Persons"):
(1) Barings LLC ("Barings") is a limited liability company
incorporated under the laws of Delaware. The address of its principal
executive office is 300 South Tryon Street, Suite 2500, Charlotte, NC,
28202. Barings is an entrepreneurial capital management firm focused
on creating innovative investment strategies and solutions for
sophisticated investors that acts as the external investment adviser
of the Issuer. Massachusetts Mutual Life Insurance Company indirectly
owns 100% of the outstanding limited liability company interests of
Barings.
(2) Massachusetts Mutual Life Insurance Company ("MassMutual") is a
corporation incorporated under the laws of Massachusetts. The address
of its principal executive office is 1295 State Street, Springfield,
MA, 01111. MassMutual is a diversified financial services organization
providing financial products and services that include mutual funds,
money management, trust services, retirement planning products, life
insurance, annuities, disability income insurance, and long-term care
insurance.
The officers and managers of Barings, who are all citizens of the
United States, are as follows:
Officers:
Thomas M. Finke, Chairman and Chief Executive Officer
Paul J. Thompson, Chief Financial Officer, Chief Operating Officer and
Managing Director
Susan A. Moore, Chief Administrative Officer and Managing Director
Christopher A. DeFrancis, Chief Compliance Officer, Deputy General Counsel
and Managing Director
Shelden M. Francis, Chief Legal Officer, Secretary and Managing Director
Michael D. Freno, Head of Global Markets and Managing Director
Managers:
Thomas M. Finke, Chairman
William F. Glavin Jr.
Roger W. Crandall
Elizabeth A. Ward
M. Timothy Corbett
Geoffrey Craddock
The business address of each of Barings' officers and managers is c/o
Barings LLC, 300 South Tryon Street, Suite 2500, Charlotte, NC, 28202.
The officers and directors of MassMutual, who are all citizens of the
United States, are as follows:
Officers:
Roger Crandall, Chairman, President and Chief Executive Officer
Susan Cicco, Chief Human Resources Office
Timothy Corbett, Chief Investment Officer
Michael Fanning, Head of MassMutual U.S.
Pia Flanagan, Corporate Secretary and Chief of Staff
Geoffrey Craddock, Chief Risk Officer
Michael O'Connor, General Counsel
Mark Roellig, Chief Technology & Administrative Officer
Gareth Ross, Chief Digital and Customer Experience Officer
Elizabeth Ward, Chief Financial Officer and Chief Actuary
Board of Directors:
Roger W. Crandall
Karen Bechtel
Mark T. Bertolini
Kathleen A. Corbet
James H. DeGraffenreidt, Jr.
Isabella D. Goren
Jeffrey M. Leiden, M.D., Ph.D.
Marc F. Racicot
Laura J. Sen
William T. Spitz
H. Todd Stitzer
The business address of each of MassMutual's officers and directors is c/o
Massachusetts Mutual Life Insurance Company, 1295 State Street,
Springfield, MA 01111.
During the last five years, none of the Reporting Persons (nor to the
knowledge of the Reporting Persons named above) (i) have been convicted in
a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation
with respect to such laws.
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